MOSS ADAMS | Withholding Tax and Portfolio Debt Issues for US-Source Interest Income 7 To harvest the benefits of portfolio debt treatment and avoid some of these potential pitfalls, debt issuers should—at minimum—follow these three important steps: 1. Maintain an updated copy of the debt instrument for purposes of documenting the registered form requirement. 2. Request a completed Form W-8BEN, Form W-8BEN-E, or Form W-8IMY documenting the beneficial ownership for purposes of FDAP and FATCA withholding. This form should be reviewed by a tax professional with experience in this area to demonstrate that the issuer followed proper due diligence. 3. Obtain and maintain an annually updated organizational and ownership chart to document that no portfolio interest recipient is a disqualified 10 percent owner. To learn more about FATCA and FDAP withholding requirements or for insight on the documentation requirements and process, contact: Ken Harvey, Partner International Tax Services (415) 677-8272 ken.harvey@mossadams.com Ken Harvey has been a tax advisor since 1988. He specializes in international tax and advises clients on international tax planning, strategic cross-border transactions, intangible property planning, and structuring investments into and out of the United States. Special thanks to Justin Jacobs, a staff member with our International Tax Services team, who helped to author this piece. .